Shopify publishes first-quarter results for 2021. During the reporting period, Shopify's total revenue was $988.6 million, up 110% year on year; Gross profit was 558.7 million US dollars, up 117% year on year; The adjusted gross profit was US $565.1 million, up 114% year on year; Net profit was $1.258 billion (including unrealized gains of $1.3 billion from the company's equity investment in confirm), compared with a net loss of $31.4 million in the same period last year.
According to the financial report, in the total revenue of Shopify, its subscription solution revenue was US $320.7 million, up 71% year-on-year, mainly due to more new businesses entering the platform; Business solutions revenue was $668 million, up 137% year on year.
Meanwhile, in the first quarter of 2021, the Gmv of Shopify's global businesses reached US $37.3 billion, an increase of US $19.9 billion or 114% over the previous year; Total transaction payments (GPV) reached US $17.3 billion, accounting for 46% of GMV in this quarter, up from US $7.3 billion last year (42%).
In terms of users, as of the end of the first quarter of this year, the shop had more than 107 million registered users, including buyers of shop pay and shop app, and more than 24 million active users per month. As of the end of March 2021, Gmv transactions facilitated by shop pay have exceeded US $24 billion. In terms of cooperation, Shopify's partner ecosystem is still expanding. In the past 12 months, about 45800 partners have recommended merchants to Shopify, up 73% from last year.
Looking forward to 2021, Shopify expects that its revenue will continue to grow, but the growth rate will be lower than that in 2020. The company expects revenue growth from subscription solutions to be driven by more businesses joining the platform around the world, which will be lower than in 2020, but higher than in any year before 2020.
The company also said that while it expects revenue to account for the smallest share of the full year's revenue in the first quarter, it will account for the largest share in the fourth quarter. But if the vaccine continues to be launched, more consumer spending will be shifted to services and offline shopping, which will lead to a more even distribution of revenue in the four quarters of the year.
【Source text: by report】
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